CarGurus, Inc. $CARG Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 41.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 615,325 shares of the company’s stock after selling 436,117 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.59% of CarGurus worth $20,595,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CARG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of CarGurus during the 2nd quarter worth about $27,000. Private Wealth Asset Management LLC purchased a new position in shares of CarGurus during the second quarter valued at approximately $29,000. MAI Capital Management boosted its position in CarGurus by 661.0% during the second quarter. MAI Capital Management now owns 1,172 shares of the company’s stock worth $39,000 after acquiring an additional 1,018 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in CarGurus during the first quarter worth approximately $46,000. Finally, Fifth Third Bancorp grew its stake in CarGurus by 121.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock worth $47,000 after acquiring an additional 779 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Trading Down 1.4%

CARG stock opened at $35.38 on Friday. The company has a market cap of $3.38 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 1.64 and a beta of 1.50. The stock has a 50-day moving average price of $35.55 and a two-hundred day moving average price of $33.99. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. CarGurus had a return on equity of 41.31% and a net margin of 16.41%.The company had revenue of $238.70 million for the quarter, compared to the consensus estimate of $234.57 million. During the same period last year, the business posted $0.45 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS. Q4 2025 guidance at 0.610-0.670 EPS. Equities analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling at CarGurus

In other news, COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $36.08, for a total value of $360,800.00. Following the transaction, the chief operating officer owned 441,821 shares of the company’s stock, valued at approximately $15,940,901.68. This trade represents a 2.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Ladd Hanson sold 9,998 shares of CarGurus stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $36.88, for a total transaction of $368,726.24. Following the transaction, the insider owned 54,807 shares in the company, valued at $2,021,282.16. The trade was a 15.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,226 shares of company stock valued at $1,471,482 over the last ninety days. Corporate insiders own 16.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of CarGurus in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on CarGurus from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Oppenheimer decreased their price target on CarGurus from $42.00 to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. BTIG Research restated a “buy” rating and issued a $39.00 price target on shares of CarGurus in a report on Friday, September 5th. Finally, Citigroup increased their price objective on shares of CarGurus from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $39.95.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.